[no gnu taxes]

http://abcnews.go.com/Business/atm-e...1#.T-yvpsVzwsw

A Detroit man is facing 15 months in prison after he was able to withdraw unlimited ATM cash from his BkofAma account that only held a few dollars.


Ronald Page, 55, took advantage of a bank mistake that placed his account into a "pay all' status that allowed him to withdraw unlimited overdrafts, the U.S. Attorney's Office in Detroit said. And withdraw he allegedly did: From August 1 to 18 in 2009, Page hit the ATMs, mostly at casinos, and cashiers --for $1,543,104.


Page, a retired worker after 30 years at General Motors, had maintained an average balance of about $100 in his account from Dec. 1, 2008 to May 31, 2009, according to his indictment.


Page pled guilty on March 7 to theft of bank funds. His sentencing will take place on June 27.


Page could not be reached for comment. His attorney, Richard Morgan, did not immediately return a request for comment.


A spokeswoman for BkofAma provided a statement to ABC News saying, "We can't provide specifics in regards to Mr. Page's account as it is proprietary and because his case is still in the courts, we are unable to comment."



Court papers state that Page was a frequent gambler at casinos in the Detroit area and Las Vegas from January 2009 to February 2010.


Between February 2009 and August 2009, his BkofAma account was used primarily for gambling, a court document states, in which he would deposit his winnings and withdraw amounts from $2,000 to $50,000.


Then on August 1, because of the bank error, he withdrew $312,000 from ATMs at Greektown Casino in Detroit, then $51,727 the same day from MGM Grand Casino. Finally, on August 18, BkofAma placed a hold on his account when it was overdrawn by over $1.5 million, his indictment states.


But the party came to an end August 18, when his attempt to withdraw $52,000 from his account at Greektown Casino was denied. He also went to the Motor City Casino on August 19 and attempted to withdraw $51,400 from his account but was again denied.


BkofAma advised him on August 21, 2009 that his account was overdrawn by over $1.5 million and demanded immediate repayment. Page has not repaid BkofAma.


The U.S. Attorney's Office recommended 15 months in prison for Page and that the court order restitution to BkofAma for the $1,543,104.


"In this case, the bank's glitch allowed the defendant to lose a significant amount of money that was not even his in the first place," states the U.S. Attorney's sentencing memorandum, filed on June 11. "The fact that defendant acted on an impulse does not minimize the seriousness of his conduct and the need for a custodial sentence."



Photo of Ronald Page (Image credit: Local 10)

They also recommended Page be prohibited from gambling activity, lotteries, or wagering of any kind and from entering the premises of any gambling casinos, horse tracks, bingo parlors, or dog races or wherever gambling activity is conducted.


Prosecutors noted that Page is not a violent offender and his age and background indicate a low risk of committing violent crimes in the future.


"If his gambling addiction is not addressed, he is very likely to cause further financial hardship to himself and his family," the memorandum states.

[PickWinnerAllDay]

LOL what a shitty gambler.

This haves me thinking of a long con though. Have someone get a job at BkofAma, accidentally put it into pay all and then steal 2-3 million and hit Mexico running.

[no gnu taxes]

I wonder how he figured out he'd be able to do this. Just on a whim, walk up to an ATM and request $50,000 when you only have $79.38 in your account?

[THE_LOCKSMITH]

0:43-1:25

[a4u2fear]

i'm sure it was worth it.

[lunchbawks]

landers should read this

[chilidog]

15 months? Stupid prison sentence. All he's going to learn is how not to get caught the next time.

[Hankwins]

This man loved spending in general regadless of this scam. average balance of $100 for a retired GM worker of 30 years.

[Reload]

"Pay All" Mode - I think they'll have to revamp that after this

[RubberKettle]

Then on August 1, because of the bank error, withdrew $312,000 from ATMs at Greektown Casino in Detroit

Fukn hell

[The Inevitable]

The month of August, hmm? I think I understand how he lost it all. I'm assuming he was betting on baseball.

I had one good month of betting on baseball my first year, then it went down hill. I suck at baseball. Too may fixes IMO.

[bettilimbroke999]

So he cashed out 1.2 mil, lost about 100k to the casinos, claimed to lose 1.2 mil and then after a year in jail digs up the money and is a millionaire....well done

[bettilimbroke999]

The month of August, hmm? I think I understand how he lost it all. I'm assuming he was betting on baseball.

I had one good month of betting on baseball my first year, then it went down hill. I suck at baseball. Too may fixes IMO.

Everyone sucks at baseball, why do you think the books ALL cut the juice in half and still make plenty

[Hankwins]

I'd like the amount of transactions with 312K worth of atm withdrawls, I've never heard of withdrawling more 1000 in a transaction.

[The Inevitable]

Everyone sucks at baseball, why do you think the books ALL cut the juice in half and still make plenty

Well glad to hear it's not just me. Started to think there's something wrong with my deduction skills.

[bettilimbroke999]

Well glad to hear it's not just me. Started to think there's something wrong with my deduction skills.

No not at all, you need a crystal ball to predict an individual baseball game, just make your bets reasonably small (to where you still care if they win but u dont punch the wall if they completely blow it) and pray for a miracle

[SteelRain]

So he cashed out 1.2 mil, lost about 100k to the casinos, claimed to lose 1.2 mil and then after a year in jail digs up the money and is a millionaire....well done

pretty much. it's called casino money laundering

[tatommack]

I can only get 10k per day out of my business account personal is 1000

[AraiWa]

I would have just taken the money and run somewhere where there's no extradition treaty, like Cambodia or Myanmar or somewhere like this. Forget the gambling. He could have lived very well for the rest of his life, the idiot.

[newbottles]

'something for nothing' is what most folks here are angling for. This guy scored it and he blew it!

[chipper]

Now that's my kind of slot machine...

[Emily_Haines]

Kind of ironic that the banks can gamble away their money and just get more through bailouts and nobody ever gets in trouble. But heaven forbid that somebody does the same thing they do to the people of this country and they throw the book at him.

[bettilimbroke999]

Kind of ironic that the banks can gamble away their money and just get more through bailouts and nobody ever gets in trouble. But heaven forbid that somebody does the same thing they do to the people of this country and they throw the book at him.

15 months for 1.5 mil is throwing the book? Where do I sign up to have the book thrown at me, I'll do 15 months for that

[PanamaBrad]

He is too big to fail. Where is his Uncle Obama? Bail out time.

[onizuka]

I'd like the amount of transactions with 312K worth of atm withdrawls, I've never heard of withdrawling more 1000 in a transaction.

That what makes me wonder too

[Marv001]

How can you withdraw that much? Sounds fishy.

[princecharles]

It was most probably the 'pay all' status that overrode the bank's daily ATM withdrawal limit.

Fascinating story. Expect a clever lawyer to civil counter sue claiming the bank error allowed his client to 'ruin his life' by dangling cheese in front of a hungry mouse, and who because of the initial mistake by the bank his client no possess a gambling addiction disease.

Any lawyer reading this practicing in Michigan, I would love to litigate this one.

I'll handle the out of state Second chair exception.
Just one little thing, I'm not 'exactly' a lawyer,
But I did stay in a holiday inn express! :/)

[parlayin]

What would the purpose of "pay all" status where one can withdraw millions from an account with $100?

[Hankwins]

It was most probably the 'pay all' status that overrode the bank's daily ATM withdrawal limit.

Fascinating story. Expect a clever lawyer to civil counter sue claiming the bank error allowed his client to 'ruin his life' by dangling cheese in front of a hungry mouse, and who because of the initial mistake by the bank his client no possess a gambling addiction disease.

Any lawyer reading this practicing in Michigan, I would love to litigate this one.

I'll handle the out of state Second chair exception.
Just one little thing, I'm not 'exactly' a lawyer,
But I did stay in a holiday inn express! :/)

I still think atm's don't give out more than $1000 per transaction.

[princecharles]

I still think atm's don't give out more than $1000 per transaction.

Exactly right. Most ATM's max is $500. But nothing would stop him from standing in front of one and do 100 transactions one after another.

[Hurls]

0:43-1:25

I love how right in the begining Maher says that Mitt Romney shouldnt pretend to be like us "regualar" people, I dont think he (bill) is much of a regular guy with all his millions.